Bain Capital Real Estate and BARDAS Want to Build a Film Complex off Santa Monica Blvd
Posted on 05/04/2021
Bain Capital Real Estate and BARDAS Investment Group seek to invest US$ 450 million to develop a five-acre site at 5601 Santa Monica Blvd, California. he site is an old Sears building and parking lot. The developers seek to build a film studio dubbed the Echelon project on Santa Monica Boulevard just west of the Hollywood (101) Freeway. The studio would be a multi-story complex would feature four 19,000-square-foot sound stages, a 15,000-square-foot flex stage, and a 90,000-square-foot assortment of bungalows.
In 2018, David Simon founded BARDAS Investment Group. Before founding BARDAS, Simon was Executive Vice President at Kilroy Realty Corporation.
Bain Capital Real Estate and BARDAS Investment Group formed a joint venture in 2019 to buy real estate to develop creative office spaces.